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WS Atkins reports FY 2009-10 pre-tax profits 6% down at £96 million - a solid performance
WS Atkins, the largest civil engineering consultancy in the UK and the world's eleventh largest international design firm, today reported a 7% revenue hit, from last year, with income of £1.388 billion, but an improvement in it's operating margin from 6.9% to 8.1% has produced 10% more operating profit.
Atkins has slimmed down it's headcount, which fell from 17988 to 15601 at the end of it's financial year on March 31st 2010, include approximately 600 under notice of redundancy. Restructuring costs of £16 million have beentaken above the line, so pre-tax profits have fallen to £96.6 million from £102.7 million.
Atkins has work in hand of 45% of budgeted revenue for 2010/11 for Design and Engineering Solutions which includes the Olympic developments, however the Highways and Transportation segment, which performed well in the year, benefiting from the UK Government's financial stimulus is now braced for cuts. The Rail sector is also braced for a reduction is government spending. Atkins of course operates globally, but that activity is of lesser interest to our readers.
Atkins has slimmed down it's headcount, which fell from 17988 to 15601 at the end of it's financial year on March 31st 2010, include approximately 600 under notice of redundancy. Restructuring costs of £16 million have beentaken above the line, so pre-tax profits have fallen to £96.6 million from £102.7 million.
Atkins has work in hand of 45% of budgeted revenue for 2010/11 for Design and Engineering Solutions which includes the Olympic developments, however the Highways and Transportation segment, which performed well in the year, benefiting from the UK Government's financial stimulus is now braced for cuts. The Rail sector is also braced for a reduction is government spending. Atkins of course operates globally, but that activity is of lesser interest to our readers.
Tue, 15th Jun 2010